Report

Christchurch CBD New Office Supply and its Expected Market Impact

Overview of the active pipeline of under construction office supply, its occupier precommitment levels and the possible vacancy impacts.

June 25, 2024 7 Minute Read

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Insights:

  • This year signifies the start of a new supply phase for the Christchurch CBD office market.
  • CBD Prime office vacancy sat at a historically low level in the second half of last year. However, the introduction of new office buildings in the market in the coming three years may result in higher vacancy rates.
  • If there is an increase in tenant pre-commitments during this period, which typically occurs as new projects advance, then it could potentially moderate the vacancy rates.